What if you could build one of the most valuable assets of your business this week? An asset that would automatically attract your ideal client, educate him on your IP, build trust and automatically pitch on working with you.
And it gets better, this asset would be very low maintenance, set it and forget it (or tweak it to improve it) yet it would do all the initial work of a sales team.
Big claims, but I truly believe that an effective Lead Magnet is the closest thing to the situation above. It’s time to talk about leverage.
In this article, you’ll learn what is a Lead Magnet, why it matters and how to build one that does the heavy lifting for you (and your team).
What is a Lead Magnet?
A Lead Magnet is a FREE piece that you give in exchange for an email address. The value it delivers attracts your ideal customers towards you.
It can take any number of shapes::
- FREE Educational Course
- Cheat sheet
Now, I truly believe that the best for most of the people are FREE Educational Course and Video Demo (automated webinar are amazing as well, but are way harder to put in place).
Why do I think that these are superior?
If you sell high ticket services, you need to build trust and educate your prospective client on your IP (Intellectual Property)/Specialization.
You build trust with repetitions and consistency, effectively imitating what you would do in the offline world.
FREE Educational Course delivered every day by email = It mimics the sales cycle with multiple touch points
Demo = You show exactly what your offer is, how it works and how it can help as you would during a trade show, a conference or during a visit.
Webinar = Online Seminar, instant authority and if someone watches you during 60-90 minutes demonstrating, answering questions and educating, you build trust rapidly.
The others are like shortcuts. They are inconsistent with the next step (the purchasing decision) and therefore could get you emails but without the logical next step.
Why do you want to build a great Lead Magnet?
That is where technology and the Internet make the marketing interesting and funny. You can give an enormous amount of value automatically and at scale on the other person timeline.
See, every day when someone visits your websites and opts in for your email course, you get to teach her valuable things. You send new lessons daily, no matter what you are doing or where you are... automatically.
Whether 1, 10, 100 visitors sign up for this Lead Magnet, the system handles it all.
And from a business perspective, it makes a lot of sense for you, because an effective Lead Magnet does a lot of work:
- It attracts great Leads
- It educates them and gets them ready to work with you
- It builds trust automatically
- It demonstrates authority
- It pitches your offerings 24/7 and automatically
Oh, and better. You don’t need every people who get the lessons to work with you (you probably could not handle them anyway), but with more qualified leads you get to pick better clients.
You also create an engine where you potential luck surface area (the people that can refer your business) isn’t just your past clients but everybody that read or got value from you.
With just 1 sign up per day, you get 350 people educated per year, knowing what you do and each with their own network. It compounds massively and quickly.
An effective Lead Magnet is one of the best assets you can create for your business:
- Work hard once and then let the system do its job (asset)
- Improve it overtime with the questions from the subscribers and clients (feedback loop)
- Every time someone joins, it gets more valuable (network effect)
Convinced I hope!
Before anything, download the Lead Magnet Creation checklist:
- I use Notion to manage a good part of my business and life (templates, SOPs, big pictures), it's amazing and free or cheap. Try it here
- Check out the Lead Magnet Creation Checklist
I don't know where to mention him, but a lot of my thinking about marketing for service providers, automation and generally consulting has been shaped by Brennan Dunn. I don't have a specific article in mind, but you should check out what he does.
Ok, now how do you create an effective Lead Magnet?
Before jumping and building your Lead Magnet, we need to think about a handful of elements:
- Did you define your Value Ladder and the Initial paid service you offer?
The Lead Magnet is a logical step of the customer journey. It will usually pitch an initial (FREE or paid) phone consultation. If you want the Lead Magnet to be effective, you need to be clear what the next steps are.
- Did you define your ideal customer?
Your Main Service solves a specific problem for a specific client. The Lead Magnet demonstrates your capacity to solves this problem and your IP.
Did you nail this part?
Ok, let’s get specific!
1. A FREE Email Course
Most of the examples presented above talk about email course because it’s just an amazing way to deliver value and pitch your services at scale and automatically. It’s also really lean as you can create a Minimum Viable Version and tweak and improve over time.
The Structure and the content
You need to strongly define your IP and main offer and what does the ideal customer needs to know about it.
He probably doesn't need to know about all the technical questions, isn’t a DIYer (Do-It-Yourself) and want specific lessons that show him that it would be a worthwhile investment.
Focus on the benefits (more money, more time) not the features.
A good structure is 5 lessons in 5 days that are consumed in 5-10 minutes.
- Lesson 1: The big picture of what you’ll learn and why it’s important
- Lesson 2: A specific big pain and how you solve it
- Lesson 3: A specific big pain and how you solve it
- Lesson 4: The case study of someone who did invest and how it solved the problem
- Lesson 5: How to solve the general problem with your specific IP (the 7 important steps)
You can then end your course with 3-4 emails:
- Email 6 (Bridge): A summary of the whole course and saying that you’ll send a presentation of your solution the day after
- Email 7: Open the sales sequence with an email indicating the benefits of your service with a link to your sales or application page
- Email 8: Second email pitch mixed with educating with some educating or testimonial
- Email 9: Third pitch being direct and succinct
If you built the Value Ladder effectively, you probably pitch a phone call which is a low ask.
Let me give you two examples of a potential course:
5 days to double your Adwords results with remarketing (B2B):
- How remarketing audience through the right funnel is the hottest audience you can market to
- Your funnel is leaking, here is how you double your results with a simple tweak
- Your Ad copy is inconsistent, here is a way to make sure to find the right words and structure
- How a B2B manufacturer doubled his inbound leads with Adwords remarketing
- Here is our exact process to make sure we get a positive ROI on Adwords with remarketing
5 days to lose fat without sacrificing your social life (B2C):
- How your environment and common nutritional wisdom is keeping you fat
- The food you choose keep you low energy and hungry, follow the paleo model
- You can’t rely on your willpower nor appetite, but strategic and simple fasting will change the game
- How I lost 30kgs while having a better social life and enjoying nicer and bigger meals
- Here is the model I follow to lose fat while enjoying great food, being social and not using willpower
The course must be specific and convey benefits, not features. How to make more money, save more time, lose more fat, look better...
Two types of email courses
You should always create content in a way that feels easy for you. The delivery method is via email, but you can decide whether you want to create a text-based email course, a video-based email course or a mix of both.
If it is text-based, the content is within the email.
If it is video-based, the idea would be to record yourself with or without slides with a tool like Loom.
The advantage of the video over email is that it creates bonding fast and effectively. It is also really visual which makes it great for the right kind of lessons.
The disadvantage is that it is harder to tweak (basically need to redo the whole video) and people might not consume it entirely depending on the environment and the time they open your email.
2. A Video DEMO
A Video demo is great when you sell something with several decision-makers/stakeholders. Everyone gets on the same page, understands clearly what you’re about and then talk about it internally.
Else, it pretty much serves the same purpose but is a bit more advanced in the sales process. It is great for a productized service or any really strong IP sold almost as a solution or product.
It creates a bonding experience fast, demonstrates your IP, and is a fast way to build trust.
The structure and content of your video demo
Similar to the email course, the goal here is to get your ideal customer to be educated on your offers and get to know you.
You’ll probably create a “PowerPoint” presentation showing your face or just a headshot and you talking.
The structure you should follow goes like this:
- What you’ll get out of this presentation (Agenda)
- The situation today (Pain)
- What they should do (Dream)
- Your offer (Fix)
- How to work with you (step 1, 2 , 3)
- The price
- Clients success (Social Proof)
- Who’s a good fit and who isn’t
- Common question answered
The presentation is behind an opt-in form where you basically say “Watch our on-.demand video demo” (not live).
Below the video, you put a button heading towards a questionnaire or a calendar.
Which tools do you need
- Email Marketing Automation
I would go for Convertkit (solopreneur) or ActiveCampaign (solopreneur or team)
- Landing page and opt-in forms
Convertkit offers basic ones that would do the job, but I would buy Thrive Leads (or Membership)
- Appointment scheduler
Calendly so that people schedule call automatically
- Form Builder
WPForms, Typeform or simply Google Form
- Video Demo
Loom and a Presentation Deck (Google Slides, Keynotes, PowerPoint)
Need help choosing the right tools for your current situation? I created this quiz to help you out.
What to do from there?
Building a Lead Magnet can simplify your marketing and sales effort. It can greatly help with your sales effort (above all if you feel uncomfortable selling) as it does most of the presell for you, automatically and in a really respectful manner.